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2003 (11) TMI 20 - HC - Income TaxPenalty - "1. Whether, in the absence of a reference application filed at the instance of the assessee, the assessee is precluded from raising the contention whether he is entitled to get full exemption under the amnesty scheme? 2. Whether Tribunal is justified in cancelling the penalty imposed under section 271(1)(c) of the Act?" - We feel that in order to answer the questions raised as to whether the assessee had given any proper explanation before the assessing authorities which would satisfy clause (B) of Explanation 1 to section 271(1)(c) and the question as to whether the assessee had failed to offer explanation, etc., a further examination is necessary. The applicability of the amnesty scheme in the facts of the case and the circulars issued under the scheme are also to be examined by the Tribunal afresh
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